This man supported a free market for the production of money and, along with his mentor, advocated for the term "catallaxy" to replace the word "economy." This thinker used the term "extended order" to describe the effects of price signals and the impossibility of rational distribution of resources in planned economies in his The Fatal Conceit. Paul Krugman criticized the full reserves and tight credit advocated for in this man's theory of buisiness cycles. He was a student of Ludwig von Mises a
This man supported a free market for the production of money and, along with his mentor, advocated for the term "catallaxy" to replace the word "economy." This thinker used the term "extended order" to describe the effects of price signals and the impossibility of rational distribution of resources in planned economies in his The Fatal Conceit. Paul Krugman criticized the full reserves and tight credit advocated for in this man's theory of buisiness cycles. He was a student of Ludwig von Mises and defended classical liberalism in his The Road to Serfdom. For 10 points, name this economist of the Austrian School.
This man supported a free market for the production of money and, along with his mentor, advocated for the term "catallaxy" to replace the word "economy."
Friedrich August {Hayek}